Anne Boden to step down as CEO of Starling Bank
Boden will remain on the board as a non-execu director, with COO John Mountain taking over as interim CEO.
Consumer/Personal Finance
US LGBTQ+ neobank Daylight to close down
The final day of Daylight’s banking operations will be 30 June.
FinovateSpring 2023: The top trends shaping the future of financial services
This year’s FinovateSpring conference has put digital transformation and innovation at the top of the agenda.
Digital banking group Tyme lands $77.8m in pre-Series C funding
Existing investor Tencent also increased its stake to become Tyme’s third-largest stakeholder.
Australian government set to regulate BNPL industry
Australia aims to introduce the final BNPL bill in the parliament by the end of 2023.
India’s PhonePe secures another $100m from General Atlantic
With the latest funding, PhonePe has raised a total of $850 million in the current round.
Wise CFO Matt Briers to leave money transfer firm next year
Wise will start the search for its next CFO immediately.
Sonata Bank taps Plinqit to help restaurant workers meet savings goals
Through the partnership, Sonata will provide customers with ways to save and plan for future financial needs.
Airbnb taps Stripe to enable bank payments for US customers
The feature will be available for customers with a US bank account.
Sonata Bank aims to boost quick service restaurant employees’ financial health
The challenger has raised more than $20 million in its initial round of funding.
San Francisco fintech Cardless secures $75m credit facility from i80 Group
The debt facility will provide Cardless “flexibility” to meet growing demand for co-branded credit card products.
Financial health app VeraScore names Scott Waldron as new president
In his new role, Waldron will lead VeraScore’s business development and customer acquisition strategies.
Tilta taps Mambu to launch embedded purchase lending solution
Tilta’s infrastructure for e-commerce marketplaces allows them to earn a percentage of every transaction.
German insurtech Wefox secures additional $55m equity funding and $55m credit facility
The company raised the new funding at an unchanged valuation of $4.5 billion.
ZestMoney founders step down following failed acquisition by PhonePe
Lizzie Chapman, Ashish Anantharaman, and Priya Sharma are all set to leave the company.
NewDay partners ClearScore’s D One for open banking credit assessments
D One’s approach opens credit to those with limited credit histories and supports responsible lending.
Barbados challenger Sagicor Bank launches on Mbanq’s BaaS platform
Through Mbanq, Sagicor Bank aims to offer customers “branchless” digital financial services.
UK pensions fintech Smart lands $95m Series E funding
Smart plans to use the funds to expand globally, complete acquisitions and invest in its Keystone platform.
Dopamine, BNPL and subprime lending
How can BNPL be structured to serve consumers better and help them be more responsible?
How digital payments are changing the world
In both sociological and economic terms, the rapid switch to digital payments is fascinating.
US credit card start-up Petal bags $35m in fresh funding, spins out Prism Data
The new investment will be split between Petal and Prism Data as the businesses look to scale.
Kenya’s Fingo partners with Ecobank to launch neobanking app
The app aims to boost financial inclusion for young people in Kenya.
Student lender MPOWER secures $150m loan facility from Goldman Sachs
The Washington DC-based lender will use the facility to hand out more loans to international students.
The future of work is a story of data and empathy
The future is not about using technology to displace humans, but leveraging technology to be more human.
Innovation through BaaS and embedded finance
FinTech Futures speaks with Temenos’ Kanika Hope about the impact of BaaS on financial services.
Apple’s new savings account sees $1bn in deposits within one week of launch
Forbes reports the savings account attracted $400 million in deposits on launch day alone.
ICYMI fintech funding round-up: Kiwi, Green-Got, Moonsense & more
Our weekly round-up for you to get the latest fintech funding news from around the world.
HPS CEO Abdeslam Alaoui Smaili on innovation in the payments industry
FinTech Futures chats with HPS CEO Abdeslam Alaoui Smaili at WeMeeting 2023 in Marrakesh, Morocco.
US digital banking platform Greenwood acquires neobank Kinly
The acquisition marks Greenwood’s third over the last year.
Sharia-compliant challenger Nomo taps Paymentology for digital payments platform
Paymentology’s technology has allowed the bank to offer cross-border transaction services “without high fees”.
JP Morgan Chase snaps up troubled First Republic from FDIC in $10.6bn deal
JP Morgan has assumed all deposits – insured and uninsured – worth approximately $92 billion from the FDIC.
Retail giant Walmart sues Capital One over credit card failures
Walmart alleges Capital One failed to meet several contractual obligations and customer service standards.
US fintech funding round-up: Credora, Summer & Yelo
A handy round-up of the recent funding endeavours of fintech companies across the US.
Curate and compile: the future of AI-driven fintech experiences
A new generation of generative fintechs is coming, and finally, the banking sector will be truly transformed.
South Korea’s Kakao Pay eyes majority stake in Siebert
Kakao Pay has acquired a 19.9% stake in the US firm and plans to buy an additional 31.1%.
US savings app Super.com lands $85m in Series C fundraise
With the new funding, Super says it will scale its product and engineering resources.
Santander taps DailyPay to offer on-demand pay services
Through DailyPay, Santander’s clients can provide employees with immediate access to pay as they earn it.
What’s the customer benefit of fintech?
For me, the level of funding going into a market is not a good measure of success.
ID Finance bags $30m debt facility to boost growth in Mexico
The facility follows a recent €30 million equity fundraise led by UK-based asset manager Kingsway Capital.
Financial automation start-up Clerkie bags $33m Series A
The round was led by Left Lane Capital, with participation from other investors.
